BHARATFORG
Hello All!
Bharat Forge has been consistently following the lower channel trendline since April 2020. It came on its trendline and has shown a strong bullish swing reversal with healthy volumes.The trendline 1 which depicts how the stock was falling has also been broken. This I believe has generated a good opportunity to go long!
Along with the price action there are other reasons to go long as well:
1)The stock is has broken the 50 day EMA and is now trading above it.
2)Along with the lower trendline, the stock has bounced back up from a strong support zone.
The Reward to Risk ratio also seems good!
Do let me know your views on this
*NOT A CALL*